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Mid-Nickel",103.5,99.73,3.78,13.78,6.78,[518,519,520,522,524,526,528,530,532,534,536,538],{"date":213,"value":512},{"date":216,"value":513},{"date":219,"value":521},99.19,{"date":222,"value":523},96.02,{"date":225,"value":525},98.23,{"date":467,"value":527},99.24,{"date":329,"value":529},101.29,{"date":339,"value":531},87.61,{"date":341,"value":533},92.44,{"date":344,"value":535},90.96,{"date":347,"value":537},92.24,{"date":350,"value":539},95.09,{"id":541,"uuid":542,"name":543,"slug":544,"full_slug":545,"content":546,"relatedArticles":655,"relatedVideos":656},112473044270777,"20e0190b-9095-4598-a959-6a9023cf49c6","Trafigura strikes $600 million deal for DRC cobalt and copper supply","trafigura-strikes-600-million-deal-for-drc-cobalt-and-copper-supply","article/trafigura-strikes-600-million-deal-for-drc-cobalt-and-copper-supply",{"_uid":547,"date":548,"tags":549,"editor":556,"content":566,"excerpt":634,"featured":50,"reporter":635,"_editable":639,"component":640,"seo_title":543,"categories":641,"visibility":647,"author_company":49,"featured_image":648,"seo_description":634,"author_full_name":49,"author_job_title":49,"formattedDate":653,"formattedArticleDate":654},"eda7c2db-8a2e-4b75-9336-4e746b2ed1bf","2022-01-19 00:00",[550,553],{"slug":551,"name":552},"copper","Copper",{"slug":554,"name":555},"drc","DRC",[557],{"slug":558,"name":559,"content":560},"didi-bostock","Didi Bostock",{"job_title":561,"image":562,"bio":564,"linkedin":565},"Editor - Energy Transition & Economics",{"filename":563},"https://a.storyblok.com/f/287943243085208/512x512/2c5ca5c1a3/didi-bostock.jpeg","Didi is the Energy Transition & Economics Editor at Benchmark, covering a broad range of markets across the energy transition. His remit spans from downstream sectors such as BESS and EVs, through to midstream such as new technologies and battery production, to upstream critical minerals mining. He also leads on financial analysis across these supply chains, alongside in-depth policy analysis.\n","https://www.linkedin.com/in/didi-bostock-656342198/",{"type":567,"content":568},"doc",[569,576,581,596,601,606,609,614,619,624,629],{"type":570,"attrs":571,"content":572},"paragraph",{"textAlign":49},[573],{"text":574,"type":575},"Commodity trader Trafigura has agreed to finance the construction of a Congolese copper and cobalt mine as part of a $600 million deal to secure supplies of the battery metal.","text",{"type":570,"attrs":577,"content":578},{"textAlign":49},[579],{"text":580,"type":575},"The Geneva-based company said the financing would enable the completion of Chemaf’s Mutoshi mine, which is set to start production in 2023. It would also help fund a nearby processing facility, it said.",{"type":570,"attrs":582,"content":583},{"textAlign":49},[584,586,594],{"text":585,"type":575},"The deal comes as cobalt metal prices trade at ",{"text":587,"type":575,"marks":588},"their highest levels in three years",[589],{"type":590,"attrs":591},"link",{"href":592,"uuid":49,"anchor":49,"target":49,"linktype":593},"https://source.benchmarkminerals.com/article/cobalt-prices-hit-three-year-high-as-ev-growth-boosts-demand","url",{"text":595,"type":575},", in part due to rising demand for electric vehicles, many of which use the metal in their batteries.",{"type":570,"attrs":597,"content":598},{"textAlign":49},[599],{"text":600,"type":575},"Supply of cobalt from the DRC is set to grow by 65% by 2025 due to investment in new projects to meet rising demand from the battery sector, according to Benchmark’s Cobalt Forecast. Glencore’s Mutanda copper and cobalt mine is also set to restart production this year.",{"type":570,"attrs":602,"content":603},{"textAlign":49},[604],{"text":605,"type":575},"“The transaction will facilitate new supply of high-grade cobalt hydroxide and copper cathode at a time of growing global demand,” Trafigura said.",{"type":570,"attrs":607,"content":608},{"textAlign":49},[],{"type":570,"attrs":610,"content":611},{"textAlign":49},[612],{"text":613,"type":575},"The Geneva-based trading company has become a key player in the cobalt market. Last year it struck a deal to buy all the cobalt produced by artisanal miners in the country and channeled through a new government entity, the Entreprise Générale du Cobalt (EGC).",{"type":570,"attrs":615,"content":616},{"textAlign":49},[617],{"text":618,"type":575},"The Mutoshi mine is set to be a fully mechanised mine that will start producing by the third quarter of 2023, Trafigura said. Trafigura said it would market all of the cobalt hydroxide produced by the assets until 2027.",{"type":570,"attrs":620,"content":621},{"textAlign":49},[622],{"text":623,"type":575},"Chemaf is a DRC-based company founded by Shiraz Virji, a long-term resident who opened a pharmacy in the country in 1981. It has struggled for years to finance Mutoshi’s processing plant, briefly taking Trafigura to court in 2020, according to Africa Intelligence.",{"type":570,"attrs":625,"content":626},{"textAlign":49},[627],{"text":628,"type":575},"Trafigura previously signed a deal with Chemaf and its parent Shalina Resources for supplies of cobalt in 2018.",{"type":570,"attrs":630,"content":631},{"textAlign":49},[632],{"text":633,"type":575},"The Geneva-based company said it intends to syndicate the majority of the $600 million financing to international banks. The money would also be used to expand Chemaf’s existing Etoile processing plant in Lubumbashi, it said.","Commodity trader Trafigura has agreed to finance the construction of a Congolese copper and cobalt mine as part of a $600 million deal to secure supplies of the battery metal. The Geneva-based company said the financing would enable the completion of Chemaf’s Mutoshi mine, which is set to start production in 2023. It would also […]",[636],{"slug":558,"name":559,"content":637},{"job_title":561,"image":638,"bio":564,"linkedin":565},{"filename":563},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"eda7c2db-8a2e-4b75-9336-4e746b2ed1bf\", \"id\": \"\"}-->","article",[642,644],{"slug":643,"name":115},"cobalt",{"slug":645,"name":646},"critical-minerals","Critical Minerals","private",{"id":49,"alt":649,"name":649,"focus":649,"title":649,"source":649,"filename":650,"copyright":649,"fieldtype":651,"meta_data":652,"is_external_url":51},"","https://a.storyblok.com/f/287943243085208/098f227518/bm-etoile-mine-cobalt.jpg","asset",{"alt":649,"title":649,"source":649,"copyright":649},"Jan 19, 2022","19th January 2022",[],[],1780670084522]